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BREAKING NEWS

Petra Diamonds first-quarter revenue falls 17 percent on consignment seizure

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Petra Diamonds first-quarter revenue falls 17 percent on consignment seizure

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(Reuters) – Petra Diamonds Ltd <PDL.L> reported a 17 percent fall in its first-quarter revenue after the government of Tanzania seized a consignment of diamonds from the company’s Williamson mine. Revenue was $78.7 million in the quarter ended Sept. 30. Net debt rose to $613.8 million at Sept.30 from $555.3 million as of June 30. Petra, which owns the Cullinan mine in South Africa, maintained its full-year production guidance of between 4.8 million carats and 5.0 million carats.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Subhranshu Sahu)
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